EIB helps Walney 2 OFTO close

26 September 2012The European Investment Bank (EIB) will part fund the latest offshore transmission owner (OFTO) contract to help it reach financial close.

The Blue Transmission consortium, comprising Macquarie Capital and Barclays Infrastructure Funds Management, has been granted a licence to own and operate the transmission link between the Walney 2 windfarm and the Grid.

Half of the debt on the deal will be funded by the EIB.

“Long-term financing of the Walney 2 transmission link will bring down the cost of renewable energy paid by consumers,” said Simon Brooks, EIB vice-president for the UK.

Blue Transmission was granted the licence to operate the Walney 1 OFTO in October last year.

Walney windfarm is owned by Dong Energy, Scottish and Southern and OPW, which is jointly owned by Dutch pension administrator PGGM and Ampère Equity Fund.